A modified PSO (particle swarm optimization) algorithm—hierarchical subpopulation PSO(HSPSO) was proposed to avoid the premature phenomenon of the PSO algorithm during evolution. By using the strategy of subpopulation hierarchy, the algorithm can improve the convergence speed and accuracy. For the synthesis optimization of a construction project, mathematical optimization models and a multi-objective optimization model of construction time, cost and quality were established. In a case study, the standard PSO (SPSO) and differential evolution (DE) algorithms were compared, and the HSPSO algorithm was utilized to its synthesis optimization. In addition, the exhaustive enumeration was used to verify the effectiveness of these models and the feasibility of the HSPSO algorithm. The result shows that the HSPSO algorithm can quickly obtain satisfied results with average iterative times of less than 20 under the condition of a swarm size of 20 particles.